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BRIEFLY

International

March 21, 1994|From Times Staff and Wire Reports

Swiss Ease Flow of Bank Information: Switzerland's Parliament passed a law that tightens bank regulations and eases the international flow of information among bank regulators. The law, modeled on European Union directives, allows Swiss bank regulators to pass on information about a bank or, in some cases, a bank client, to foreign regulators and criminal investigators. This will allow bank officials to work around Switzerland's bank secrecy laws, which forbid the release of client information unless police or a court order it. If the information involves a bank client, the client must be informed and can try to stop the release by taking the case to court.

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